 This is crazy. What's up money geeks? Mr. V here. Welcome to a new video guys. So into this video I want to take a quick look at why Nikola model skyrocketed over 100% for the day. You know I've talked about Nikola model year on the channel where we said it was maybe the next Tesla or the next competition to Tesla. So, but again this is a company that hasn't manufactured a single car. Everything they have right now is either what I call prototypes or what I just call proof of concept. They haven't actually manufactured a car that people can drive and feel comfortable in. But today the stocks just went crazy open. You just went straight up and closed the day at over 100% returns, which is kind of crazy. So I want to take a look at why that happened and also if you're new to the channel we talk about how to earn money, how to save money, how to invest and build wealth. So if there's something that interests you definitely need to go ahead and hit that subscribe button. And also I'm going to hook up the video where I talked about Nikola models with Vector IQ merger. So they went from Vector IQ and they merged with Nikola model and changed their ticker symbol to NKLA. So I'm going to hook that video up here so you can definitely go check it out. So let's jump on, check out the news and see why their stocks went up 100%. All right guys, so if we actually pull out ticker symbol NKLA, so I'm actually in Weibo right now. So this is the news that actually pushed that stock to go over. So they currently have an investor by I think right here so we can see, we can just highlight and read it. So this investor IVECO, so has actually kind of like a joint venture with Nikola models and to kind of manufacture their fuel cell class eight trucks in 2023. And so they have a new plan, they want to kind of set up a new plan in maybe Phoenix, Arizona, which is nice for them because right now Nikola's models, they, like I said, they have a concept. So being able to create a partnership with a company like this that would help them go to production, it's a really good move. And this company, I think they're actually investing about $250 million into Nikola models for 7.11% of the company, so that's not too bad. And for the way the cash is actually broken down so it's not like you just give them 250, they give them a hundred million dollar cash and then a hundred million dollars in services, whatever that means, I don't really know. And then the other 50 million too, just over time they'll give the other 50 million. So but the commitment to Nikola models is 250 million. So based on that information, that's why the price of Nikola models actually went up over a hundred percent today. So I had about 10 shares of Nikola model there but when it just came out and I just bought it because it's like, I mean, I did that video which I told you guys I was gonna buy some and I wasn't really anticipating anything right now because if I knew it was gonna be this crazy I would have bought a ton. So I just bought it because like hey, if 10 shares at under, I think about them under $28. And so if it goes up like Tesla, my 10 shares, if it goes to $800 or $1000 a share, that's $10,000 for me spending less than 150 bucks. So that was my goal. But the thing just went crazy today. So got up to about $74, $75 which is crazy. So that is the main reason why this stock actually skyrocketed today. But so questions that you have to ask yourself as an investor is, is this company comparable to Tesla? Again, they don't have any assets yet. They don't have any trucks or anything that they've actually manufactured. So all this right now is just laying the groundwork. And they have about $4 billion worth of commitment from people to order trucks from them. So making a commitment is one thing but actually following through and paying the price is another. But if you guys notice it's a more easy concept of marketing, most people, if you look at Tesla, they pre-sell before they go manufacture. There was this company that makes phone called OnePlus. They do the exact same thing, pre-sell before they manufacture. So there you go guys. That is the reason why Nikola Motors went crazy today. So if we pull up the chart for Nikola Motors today, we'll see that it actually just went crazy. So we opened up today at about $30 something and it thinks just went crazy all the way to about $73. That's where it actually closed today. So this is insane growth guys up to $73. So if you look right here, that's over 103% for the day. Is it gonna keep going up? I have no idea. Maybe if they get more and more investors, that's just what the price is probably gonna keep going up. So yeah, question of the day guys. What do you think about Nikola Motors? Do you think that they have a chance at maybe even competing with Tesla or is it just getting blown out of proportion? And again, if you are an investor, I would say approach this with caution. Then throw your life savings at this. And again, if you invest, make sure that you have a stop loss and take profit so that most importantly stop loss so that you don't lose all your initial investment. So definitely just approach it with caution. And as always guys, like, share, subscribe. YouTube tells me that 90% of you guys watching haven't already subscribed. So go ahead and hit that subscribe button. And the notification bell. And as always, stay motivated guys.